CBN to Sanction Financial Institutions Hoarding New Naira Notes
The Central Bank of Nigeria, CBN, has vowed to impose stiffer sanctions on financial institutions hoarding the new naira notes. CBN Director of the Payment System Management Department, Musa Jimoh, confirmed that the apex bank has massively supplied the new notes to banks to dispense both at counters and Automated Teller Machines, ATMs. Jimoh stated that the decision to redesign the naira conforms to the global practice as currency notes […]
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